Zachary Beach 0:00
So that’s a prime example that people we work with self employed business people, we have a very targeted end buyer and that end buyer is what helps us create, you know, this three Payday system which we created cash now monthly cash flow and in build wealth and these deals, because we exit with them because we know the end buyer in mind, we then are able to target specific properties and, and really we target stellar that have challenges that the traditional market could not solve. Those challenges could be on one end of the spectrum could be Hey, they’re in, they’re in arrears to me, and they need debt relief tomorrow, which is becoming a primary targeted audience. I’m going to say target a primary people that we work with, especially as its market shifting, and then we have the opposite side of the spectrum as well and that is debt free homes.
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J Darrin Gross 1:12
Welcome to commercial real estate pro networks CRE PN Radio. Thanks for joining us. My name is J. Darrin Gross. This is the podcast focused on commercial real estate investment and risk management strategies. Weekly we have conversations with commercial real estate investors and professionals who provide their experience and insight to help you grow your real estate portfolio. today
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Today, my guest is Zachary Beach. Zachary is the an Amazon Best Selling Author of The New Rules of the Real Estate Investing. And co host of the Smart Real Estate Coach Podcast is a partner, COO and coach at Smart Real Estate Coach. In September 2020, they released a revised edition of Real Estate On Your Terms, which Zach co authored. And just a minute, we’re going to speak with Zach, about real estate on your terms, how to create continuous cash flow now without using your cash or credit. But first, a quick reminder, if you like our show, CRE PN Radio, there are a couple of things you can do to help us out. You can like, share and subscribe. And as always, we encourage you to leave common we’d love to hear from our listeners. Also, if you want to see how handsome Our guests are, be sure to check out our YouTube channel. You can find us on YouTube and commercial real estate pro network. And while you’re there, please subscribe. With that, I want to welcome back my guest, Zack Beach. Welcome back to CRE PN Radio.
Zachary Beach 3:12
Darrin, happy to be back here. And yes, I encourage you to go the YouTube channel so you can see handsome we are.
J Darrin Gross 3:18
That’s right. Little teaser, you gotta make sure they know you’re wearing your favorite shirt or whatever they got going on. But no, I’m delighted to have you back man. And looking forward to our talk. Before we get started, if you could take just a minute and share with the listeners a little bit about your background.
Zachary Beach 3:41
Yeah, I’d love to. So Darrin, it’s certainly been a little bit of time since I’ve been on. So thank you again, I’m super grateful for being back on here. So that was a fantastic show. Those of you that didn’t listen to the first one I am. I was a bartender and personal trainer coming out of college. And I didn’t really know what I want to do in life. As I really didn’t have a big set goal dream I just knew I loved to be successful one day. And when I was about 24 years old, I approached one of the smartest people I know, my father in law Chris at the time, and I said, Hey, I know you’re reinventing your business because he just got out of the 2008 crash. And I said no, you’re reinventing your business and real estate is hey, I don’t know if I’m gonna like real estate at all. But I know it’s gonna be a heck of a lot better than staying up late at night to have a drink and waking up super early in the morning training people who didn’t want to be trained. Because that’s primarily my personal training is your training people who don’t necessarily want it the results they just want to pay you to wake up in the morning with them. So I reached out to him and I and we had that conversation so I added another thing onto my plate. So now instead of staying up late we waking up early in the morning and then sleeping during the day. I now was making cold calls to expired listings throughout the day, or reaching out to people that were on the market at one point in Time with the realtor. And for whatever reason it didn’t sell. I did that for about from December to April. And then April, I started to get the hang of it. So I decided to do what every smart person would do. And I burned all my bridges, I went ahead and I quit my bartending job and stopped taking training people in personal training, and jumped into real estate full time. So there’s a bit of a risk that too, because all of us that work together, me, my father in law, my brother in law at the time, and my wife actually end up doing this as well, we all more or less, eight will be killed. So it wasn’t like I was walking into that seventh cushy salary position, I was walking in the sale. And once I jumped into that, it took me about six months to do my first deal on my own. But we ended up doing some deals in between the partnership. And from that standpoint, moving forward, I haven’t looked back, you know, it’s been going on eight years now. And real estate investing primarily in the creative financing space, both in single family commercial and in Maltese. And then and then also now been partner in our coaching where we teach people exactly what we do with our family business, on a day to day basis in our helping, you know, hundreds of people going on 1000s of people around the country be able to build and scale their business this exact way. So they could be similar to me, which is you know, escape from their W two and now to be able to build a fantastic business to create the life that they choose.
J Darrin Gross 6:33
I love the the background there and and, you know, like said burning all of your your bridges or burning the boats or however you want to say that and and committing and I mean, that’s, that’s a that’s a big risky, scary step to be able to do that. And and then to be able to, you know, go and like said he would you kill and be successful in it. That’s, that’s awesome. So let’s talk a little bit about what the model was he you mentioned, you know, you’re doing cold calling on expired listings. And then what was the the target the prospect that you were seeking most? What did they have that you were looking for?
Zachary Beach 7:19
Yeah, so as a as a family business, and really what we the model, which we teach our associates, now the people we buy into real estate with Is it primarily approaching approaching residential homes, where we can go ahead and acquire those residential properties through one of our three methods, which we kind of umbrella that is creative financing or buying on terms. Because we’re able to go ahead and acquire these residential properties, we’re then able to exit the deal the very specific way because we have a very specific target buyer. Now, these are the buyers that are outside of finance ability today. And they need time either for credit repair and credit enhancement, or seasoning. I was one of those perfect fit. To give you an example, when I was about a year into my real estate career, my wife and I were trying to move two years, we’re trying to move out of Newport, Rhode Island, which is very city driven Taurus driven area into one of the strapping towns that we could start raising at the time, it was about our one year old son. So we ended up acquiring a piece of real estate on a lease option, too. So that’s one of the methods in which we use and we will combined and move into this home be treated like homeowners, even though we didn’t have our own loan yet. So that way we could work towards becoming financial and becoming bankable so that we can eventually go ahead and buy that home and put it in our own name. So that’s a prime example that people we work with self employed business people, we have a very targeted end buyer. And that end buyer is what helps us create, you know, this three paydays system in which we created cash now, what’s the cash flow and in build wealth and these deals, because we exit with them, because we know the end buyer in mind, we then are able to target specific properties and and really we target stellar that have challenges that the traditional market could not solve. Those challenges could be on one end of the spectrum could be Hey, they’re in they’re in arrears me, and they be debt relief tomorrow, which is becoming a primary targeted audience, I’m gonna say targeted primary people that we work with, especially as its market shifting. And then we have the opposite side of the spectrum as well. And that is debt free homes, free and clear property sellers that are in a great financial situation. And we wouldn’t be looking for more of residual income or to get a maximization of profits from that property, a property that they know like and trust so once we have this targeted seller and the targeted buyers in between as the real estate investors we see All that challenge breaks that gap. And that’s how we’re able to create these these lucrative real estate deals. Without like you said at the beginning without using large amounts of cash raising capital, go into bank personally guaranteeing debt or signing personally on any loans.
J Darrin Gross 10:18
I think what’s interesting to me is that you first, you know, it’s fair to talk about your buyer. And certainly the the person you’re buying from, you’ve got a pool, if I understood, right, you have a pool of people that you know, that you have wouldn’t be marketed to. And you’ve you’ve identified that for whatever reason aren’t, aren’t able to buy a home just yet. But they’re, they need a place. And, you know, you tell me a little bit about that. I guess that’s kind of what I’m curious cuz I was thinking more on the front end of identifying the property that you’re trying to acquire. But tell me a little bit more about the potential buyers that you have
Zachary Beach 11:02
is to roughly 60 to 80% of the nation cannot walk into a bank and qualify for loan, even though they want to become homeowners. So it’s a massive pool of buyers. And it’s actually growing as interest rates rise, the amount of buyers in our pool, the people we work with gross, it’s so relevant in the fact over the last six months, buyers that could qualify for loans at a 3% interest rate can no longer qualify for loans at a five or 6% interest rate, because their debt to income ratio. Now, it doesn’t mean that they’re not good buyer, though, a lot of the people that were set up to become homeowners, and now the market had pushed them out, have downpayment or cash in their bank account, they are ready to become they want to become homeowners. So we just helped bridge that gap throughout that process. And then there’s that large pool by very similar to myself, that are self employed. And it’s just banks require what we would call seasoning. So 24 months, you have to show that you make a certain amount of money so that they can then qualify for a loan. Now, what most of us are taught as being self employed is show the least amount of income if you don’t want to buy anything, right, so you have to pay less taxes. But then as soon as you need capital, or do you want to become a homeowner, because you want a loan, you now have to switch that which means that you and your CPA or your team now have to start showing that you’re making more income. And that takes a transitional period. And we know like and understand that. So what we then do is we work with these buyers, we placed them in homes in which we have acquired or owner control, they then come in with a non refundable deposit that locks their space in, but it does get credited off the purchase price, they then are paying monthly rent on the property. And then in the future, they will then go qualify for a loan and at that point in time, they will then pay us off and they’re willing to pay off the seller or we just get paid out because we have ownership depending on the structure we did on the front end. So this is a massive pool of buyers that continues to grow as the market shifts. We’ve had many conversations to plant the seed and and toss it back here. Many conversations that as real estate investors, when there’s a down market, traditionally, it’s an up market for investors, because the investment didn’t capitalize on the down market, which means that buying so want to find things abroad, we then have the ability to have more available inventory to not serve it the buyer that were kicked out of the traditional market or continue to be kicked out of traditional market or just No, never thought that could even be a part of the traditional market. And we show them that pathway to homeownership.
J Darrin Gross 13:50
Got it. So we talked about your buyers. And you mentioned kind of the sellers. I guess is there a an ideal situation? Is there a minister anything? Because like a lot of times, like you mentioned like there’s people that you identified that they they either own their property outright, or they need need to exit something right away kind of thing. Do you find these to be unique to a particular market or particular segment of the market? Or is this just universal? Across the board? There are opportunities up and down every block?
Zachary Beach 14:32
Yeah, it’s universal across not only across the country, but I mean, we primarily work in North America across North America. The debt free houses other statistics on that roughly 1/3 of the properties in the United States are debt free. So that’s universal across the entire country. And then I’ve even heard again, don’t quote me on this, but I’ve even heard that in Canada. It’s even higher. Almost 40% of the properties are debt Free. So that pool one alone is is a massive pool of sellers that you could work with. And then the other standpoint is, look, there are always people that are going to be going through transitions in life that are always going to have fine certain things with finances that may, you know, bring upon a downturn for them with their family, death, divorce, unforeseen circumstances, and those are the people that we’re looking to help. It’s not the traditional sale, that you know, they want all their cats today at a certain price. And it’s like, you know, beautiful property that’s gonna get swallowed up on a traditional market, you know, tomorrow, it’s the houses in the people that just need that need a little bit of massaging or, or have a little bit of a challenge that we know that we can solve that the traditional market can’t. And then they’re starting to become right now a lot of sellers that are turning towards should create a financing as well, because there’s no reason why they have to pay you know, Commission’s if they don’t need their money today, there’s no reason why they have to go through the traditional, the traditional means of selling a property where they have to go through 3060 90 180 days of kind of going through this, you know, traditional cycle of dealing with banks, there’s no need to especially if, again, they don’t need their capital today. But on the extreme side, and again, the focus, I believe, and we believe is going to be in this segment where there’s not a ton of equity in the deal, they may be in arrears, because the shifting of the market, and because a lot of people have still not been able to climb out of this COVID reading area or this last two or three years. And they’re barely trying to make it out. And they’re looking for a way to exit and to relieve themselves. And I believe that that’s that’s only going to continue. And we have a fantastic solution for that. And maybe you’ve heard of it before, but it’s subject to deals are buying property subject to the existing loan, which really gives us the ability to go in, pay down the arrears or buy a property for what the seller owes, have the seller be able to walk away, not have their credit damaged for the next many years. And actually, in some circumstances we have built to increase their credit because we’re now making the payments on their behalf, and they can walk away and then we’re able to now service that that buyer that we originally talked about, because our buyers are willing to pay a premium on the house because we’re giving them an on ramp. So now as investors, we can almost create equity in the deal, because we can add a premium on to it and now create profits where they weren’t originally profits. And where many real estate investors wouldn’t pass it on. Because the wholesale fix and flip world, if there’s no profit margin, they can’t buy it, you know, 40 to 60 cents on the dollar, then they passed it. And so we’re able to really fill that void and out create a really great stream of income not only for us, but then provide a solution for both sides of the party.
J Darrin Gross 18:00
So if you were to guess, the number percentage of deals that you guys acquire, you mentioned the the ones with no mortgage versus the ones where you know, people have either there’s some arrears or, or they need to need to sell. How many of those if you had to guess on a percentage wise, how large is percentage of people that are in arrears, versus the the paint off mortgages.
Zachary Beach 18:32
Yeah, some estimates that come to mind based on our three strategies. And this was previous because we’re actually making some strategic shifts right now, because of the way the market is shifting. If I look at 10 deals, I’d say out of those 10 deals, it’s going to be about one to two are going to be owner five to deal. So the debt free house is another two to three will be the subject to deals with the houses that don’t have a lot of equity. And the remaining balance of probably five, four or five are going to be lease options, which really fall in between there, which is you know, the house has a mortgage on it. And the seller is looking for some an alternative option or to sell. But they also have equity in the house as well. So that tends to fall there. And the lease option is a really simple way to get involved in creative financing and really a pathway in which we bring a lot of our brand new real estate investors through. Because the difference on a lease option versus those other two options are that the title does not transfer, it’s a way to control an asset way to control real estate, they’ll be able to build an equity way to control an asset but the title doesn’t transfer. It’s a lot simpler, have a conversation and transaction with a seller because you’re really just drawn up a lease purchase agreement or lease option agreement, structuring the terms of the deal, you then can literally move into that property or buy that property the next day if you chose to, even though we always build in contingencies to get Have our our investors time in order to locate buyers. But that’s a real simple transaction or to get involved with. So I wouldn’t say that about half our deals. And then the other ones, the other, if I looked at 10, do get tend to block.
J Darrin Gross 20:13
So let me ask you this. So the the numbers are you describe the event, a couple out of 10, that are owner financing. And then you’ve got the other options where there’s either no equity, or they’ve got equity kind of lease option going in, if you had to guess how, how often does a buyer of one of your deals not perform? And if that does happen, what what’s the solution for the the seller? Or how do you mean you just release it resell it? What’s the what’s the percentage of a fail versus and then also, what’s the solution go forward?
Zachary Beach 20:58
There, I’m glad you asked, because this is the major separator because of the systems and processes that we’ve created to actually have buyers execute on the deal. Because if you’ve listened to any other podcast before with somebody, say like myself, you you’d have, you’d probably get the opposite stats. And that is we qualify our buyers about 95% of time they actually execute their agreements, versus if you look at the rest of the industry. And that’s why they rent to own people kind of like that actually work better because probably about one out of 10 actually survived. And the reason why this happens is because we have a very specific process in which we walked them through where we not only us, but we utilize third parties that have that used to underwrite and also can measure the credit score or if they need credit enhancement or seasoning Well, we can create a mortgage readiness plan surrounding a couple of pieces. One could be what’s their downpayment or their non refundable deposit. Now that non refundable deposit is extremely important because it gives them skin in the game one. But it also is going to help them qualify for better loans when they go get a loan because that non refundable deposit is credited towards the purchase price. And it’s going to be shown when they go buy the house. So that’s number one and age throughout their lease term, because they have a specific timeframe based upon what we get back on their mortgage readiness date will then create a customized agreement around that we will help them increase by having them put down more downpayment money throughout their term, which that again increases their downpayment, which helps with their loan. But what it also does is it puts their feet to the firing always keeps it top of mind that they are investing in buying this property to become a homeowner versus you put a down payment now and then three years from now, we hope you perform more than likely not going to happen too much time. It happens in between those. So that’s that’s the first piece and also based upon that downpayment wall to look at their credit score, right? Where are they today? And where do they need to be in order to qualify for that loan? Or are they self employed and they need to be they need 24 months to show how much money do they need to show in order to qualify for that loan, and then throw that term, we will have them be a part of one of the third parties that we work with that will maintain and check and help them increase their credit or show and increase their season. So now they really have not only us as the investors, but we’re also bringing in specialists that help people get to that point. So we walked them through a very specific program. That is very important not because when we entered into this industry, and now we have over 50 years of experience in real estate, between myself and my team, I follow along my brother in law. When we walked into this, we noticed that there were too many people in our space shouting from the rooftops that, hey, you can place buyers in the property, click non refundable deposits, let them go there. And if they default, they default whatever, it doesn’t matter, you just do it again. You do it again. Do it again. You know, maybe legally that’s okay. But morally and ethically that’s not something that we stand by. So we want to really create a system that would generate buyers in order to get them to the finish line. Now into the second part of question, which is what happens if they actually do default? Well, if they default, then unfortunately they are going to lose that non refundable deposit and they would have to move out of the property. And then depending upon what type of structure we bought the property with will determine our next exit. If we bought the property we have plenty of time left over being before we have to either exercise our option or pay off a balloon payment that we may stick another buyer in the property or work with the next buyer to help them qualify for loan. If we have a short timeframe, then we may look at some alternative options like selling it traditionally, or, or maybe renegotiate with the seller in order to get a better terms. So there’s many different ways in which you can pivot. And I’ll be honest with you, any time in which we needed to pivot in any of our deals, whether it’s us or us partnering with people and doing their deals in their neck of the woods, there always ends up being a better solution and at the increased profits, because it allows you to reevaluate that deal and kind of pull on some different levels in order to create a better exit.
J Darrin Gross 25:29
I appreciate you going through that, because I think that like you, you indicated, I think the the notion amongst most investors is like it’s a great deal. And if they fail and good for you, you get to do it again and again, and again. And again, as opposed to like creating actual success stories. There. I’m curious, so let’s talk about the investor, you guys as the deal makers, and your students describe, where’s the cash flow in the spread? How are you guys making your money? We’ve talked about buying the properties from the sellers on a couple of different ways. We’ve talked about the buyers in how you put them in and get them to be actual buyers. How many? How are you guys making your money? And how do your students make their money?
Zachary Beach 26:19
Yeah, let’s talk about what the people actually want to hear about on the podcast. And that’s exactly cash flow, the beginning to solve all these problems. So I trademark three paydays sit them work like this. So when you go ahead and you acquire a piece of real estate, you’re buying the property from a seller, you’re gonna agree upon typically three different terms. One is going to be the purchase price, or the locked in amount of equity, we tend to operate in equity. That way we can create principal pay down in the deal, even if we don’t own it, so you’re locked in equity, then secondly, you’re going to have your monthly payment, which could consist of if it’s owner financing, it’s what you create with the seller, a large portion of the time, we have to create principal only payments, so 0% interest monthly payments, if there’s an existing mortgage, then you’re going to be paying the principal interest taxes insurance on that mortgage, you’re gonna be paying the P idea, then you’re gonna be then the last term tends to be the, the term or when the property needs to be kept out. On some of our deals with no end date, like on the subject to deals where there’s no equity, we just go ahead and we acquire this property. And at some point in the future, we’ll pay it off, there’s no be no end date. If it’s an owner financing deal with some of those could range from a 30 year mortgage to to a five year biller. Lease Option, same thing could be a 10 year deal to a three year deal or a five year deal and anything in between. So then there’s that end date that things need to be kept out on. So once you agree upon those terms with your seller, you’re then going to sell the property. So you’re going to take ownership from a purchase and sale agreement, or you’re going to buy it on a lease purchase agreement. Now we’ll give you equitable interest in the property, and now allow you to sell it. So now you go ahead and sell it and we exit our deal one of two ways. You either exit on a rent to own or a lease purchase. Or we exit on owner financing, where we now become the bank. And there’s techniques and tools that we use along with our attorneys in order to now structure where we now become the bank. And where you’re going to now sell that property for a higher purchase price who’s our buyers need time in order to qualify for a loan, so they’re willing to pay a premium, we’re also going to sell it at a higher monthly payment. And then typically, we’re going to sell it at a shorter term. So that way, we have the ability to make any pivots. If for some reason this buyer is unable to qualify for a loan, or one of those could be there’ll be give them extra time others could be that we take back the property. Now that we’ve constructed both the seller and the buyer, we now what we’re going to do is we’re now going to collect a non refundable deposit from our buyer, which is our pay day one, which tends to be anywhere from three to 10%, down and sometimes up to 20% over time. Then our payday two is our cash flow or residual income. Remember, you’re not a landlord, you’re just simply collecting a payment and then paying what the seller or the mortgage company. So it’s just residual income coming in. That’s your payday two. And then your payday three is going to be the equity that you built into the property which simply consists of two different things. One is if there’s any premium leftover, and too is the principle that has been built into the deal over time. Give you one example. Let’s say you buy a property and you’re making a monthly payment of $1,500. In 500 of that is coming directly off the mortgage or as the principal portion of it every single year that you’re in that deal $6,000 coming off the mortgage, because you locked in the equity with the seller and not a purchase price, you are the beneficiary of the principle payment. That is how you can even create equity in the deal without ownership. That’s why those lease options are really easy for people to get involved in at the beginning. And then as the real estate investors start to do more and more deals, we continue to help them up level their game by getting an owning real estate through owner financing and subject to deals.
J Darrin Gross 30:40
I like the multi prong approach there with multiple revenue streams or the gives a deposit you got the cash flow and then the equity on the on the backs. And that’s, that’s awesome. We’ve been primarily talking about or at least the the conversations been focused primarily on like residential properties. Can you tell me a little bit about some of the commercial properties? You found that that work or some of your students have found, as they were, you know, as it doesn’t work with commercial properties?
Zachary Beach 31:13
Yeah, absolutely. So we bought we purchased a couple multifamily. It was a six unit and I remember specifically it was when I first got involved in real estate I was sitting there and my father in law, Chris is actually purchasing it with his IRA, a six unit, we acquired it from a seller who inherited the property, we would just do direct mailings to these very specifically targeted mailings to commercial real estate, Maltese or commercial in a very targeted areas because we knew and liked the management company that was there. We went ahead and we acquire that piece of real estate. And I remember at the closing, because we purchased it the very first or second day of the month, the seller had to hand over all of the security deposits and paying the rent. So we had to get paid $7,100 At that time of closing. And we ended up buying it on owner financing. And it was principal only payments, I believe it was like 1500, all of the above principal only payments, we went in course tighten things up, add some additional revenue streams to it. And went ahead and we ended up exiting that deal. Instead of refinancing and keeping it we ended up exiting that deal and selling it to another company that was coming in and buying units and ended up being over six figures in about 24 months on that turnaround on that six year. So that’s the power of owner financing and principal pay down of 0% interest is you can create massive amount of equity in a deal really quick, especially as you’re increasing rents over a short period of time. So I ended up doing that. So that that’s a great example of multifamily is that we work and we tend to work in 10 units or less. Specifically, because they’re the mom and pops usually owned them, it’s a lot easier to count on work with mom and pops and structure these types of transactions, even though we’ve been presented recently, to the market, our 1818 units 21 unit and mixed use buildings that were open to these creative terms. I’ll give you one more example. The commercial building, it’s a mixed use building that we bought is actually our home base. And our housing is all of our companies. It’s right outside of Newport, Rhode Island, which is a very prominent area. And we ended up purchasing that property from a seller who ended up passing away recently for estate planning purposes. He had a building he knew he might have known he was getting older, he still had his son, his wife are still around. He is a big landowner and commercial real estate owner. And we ended up structuring owner financing on that deal over a 20 year term. And, you know, once he passed away, we just continue to pay as a date. And I remember getting a we got a phone call from his wife and she just thanked us for you know, continued to make the payments, even though he went through this transition. And you know, because she lives off from all the real estate investments that they created. So now they’re fantastic group of people to work with are people that are doing this strictly for estate planning purposes and don’t want a lump sum, but they want to create this residual income, especially as their they may be leaving family members behind and they want them to benefit from that piece of real estate that they created. Now we we of course fix this thing up and we did a lot of work to it. But it’s raised an equity almost $400,000 Over the last couple of years because of the improvements and that we made to the commercial building but fantastic deal for both parties.
J Darrin Gross 34:45
That’s That’s awesome. Awesome for both you and then appreciate you kind of sharing the commercial aspect of that. Trying to think the there’s something else I was talking about commercial It seemed like there was something else I meant to ask in. Last thought there. But anyway, let’s shift gears here for a second of what could I do, I’m an insurance broker. And I try and work with my clients to assess risk and determine what to do with the risk. And there’s three strategies we typically consider, we first look to see if there’s a way we can avoid the risk, when that’s not an option, we’ll see if there’s a way we can minimize the risk. And if we cannot avoid nor minimize the risk, then we look to see if there’s a way we can transfer the risk. That’s what an insurance policy is. And as such, I like to ask my guests, if they can look at their own situation, could be their clients, investors, tenants, the market interest rates, whatever you consider to be the biggest risk. And for clarification, again, while I’m an insurance broker, I’m not necessarily looking for an insurance related answer. And so if you’re willing, I’d like to ask you, Zachary Beach. What is the biggest risk?
Zachary Beach 36:11
Yeah, it’s a fantastic question. Because it’s something that we talk about quite often. And it’s something that we talked about a lot with our, our students, and that’s because we help a lot of students leave their corporate jobs, and become real estate investors or become business owners, because it’s our big belief that the W two is the biggest threat. Who is the biggest risk because you have zero control over the outcome of whether or not you have a job or not, there’s too many other parties involved. There’s too many other people that that can control your destiny. It’s not until you put the risk or you go outside your comfort zone and start building the life that you choose through either real estate investing or business. That way you can start taking control of your life. No, all the predictions are right now that we’re about to go into a downturn. I mean, nobody can really predict me in the billionaires can predict, but the feeling is that we’re shifting. And when there’s a shift, there tends to be layoffs, there tends to be businesses out there cutting back on their labor, and they start really consolidating. So you just never know, if you’re the one that’s going to get cut back on as as being you know, instead of w two. So that is why there’s a large group of people that are consistently and we’re starting to see it are consistently applying to be you know, in our programs that have corporate jobs, and they’re looking to first and foremost, offset expenses by building a real estate portfolio. And then secondly, once they go ahead and build that portfolio, create a transition plan to now be in control of their business, and be in control of their lives. And you the amazing thing is once you see people transition and escape that that job, the new life that’s built into them in the acceleration process of their life, personal development, their wealth, how it dramatically starts increasing, once they have full control of it and can consistently day in and day out work on building that better life. So the W two in my eyes is always the biggest risk when it comes to you know, say real estate investment when it comes to you personally inside you live.
J Darrin Gross 38:36
Very, very, very well said. I think the you know, taking control of your your situation. And also recognizing opportunities and and, you know, what’s that old adage, you know, you give a guy a fish you can eat for a day and teach them how to fish you can eat for a lifetime kind of thing. You learn something and you can apply that skill and, and grow your assets and have a more secure future for you and your family. And it’s definitely a good way to go. So, Zach, where can listeners go if they’d like to learn more connect with you?
Zachary Beach 39:13
Yeah, let’s ensure that each and every one of your listeners actually get our Amazon best selling book real estate on your term as I think that that can be a fantastic first step for you to you know, avoid the upcoming risk of your W two and really thinking involved in real estate investing. So the way you can find it and go grab it, we’re gonna we’re gonna ship it to you for absolutely free to be a hardcover book. You just got to wicked smart books.com/c r e p n, what gets my books.com Plus CRE PN. Go ahead and grab your book and we’ll ship it out to you soon as you go ahead and fill out a quick form.
J Darrin Gross 39:54
Awesome. Zachary beech. I can’t say thanks enough for taking the time to talk today. I’ve enjoyed it learned a lot, and I look forward to doing it again soon.
Zachary Beach 40:06
Awesome. Thanks, Darrin. Appreciate your time.
J Darrin Gross 40:08
All right, for our listeners. If you like this episode, don’t forget to like, share and subscribe. Remember, the more you know, the more you grow. That’s all we’ve got this week. Until next time, thanks for listening to Commercial Real Estate Pro Networks. CRE PN Radio.
Announcer 40:29
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